Palladium Trend May Be Changing as Price Just Breached Below Its 20 Day Moving Average

The Hourly View for Palladium

  • At the moment, XPDUSD’s price is down $-0.91 (-0.03%) from the hour prior.
  • It’s been a feast for bears operating on an hourly timeframe, as Palladium has now gone down 4 of the past 5 hours.
  • Regarding the trend, note that the strongest trend exists on the 20 hour timeframe.
  • Price action traders may also wish to note that we see a pin bar candlestick pattern on Palladium. Given that we see an uptrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
  • The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

Palladium’s hourly price chart is shown below.


The Daily View for Palladium

  • At the time of this writing, XPDUSD’s price is up $100.61 (3.76%) from the day prior.
  • This move is a reversal from the day prior, which saw price move down.
  • As for the trend on the daily timeframe, we see the clearest trend on the 50 day timeframe.
  • Most noteworthy in the world of moving averages on the daily chart is that the 20 day moving average has been crossed, so that price is now turning above it. The moving averages on the daily timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

Below is a daily price chart of Palladium.


Featured Palladium Idea From TradingView

Below is a trading comment entitled XAUUSD and Overview to Markets you may find interesting:

XAUTRYG Silver troy ounce (31.10 gram) 26.175 USD (percentage of 1.06, Buy signaling) and Platinum , 1059.2 USD (-0.78 of pct, Strong Sell). Ounce palladium 2787 USD (%3.95) costs for traders.Copper 1 pound (0.4535 kg), 4.2805 USD (with the percentage of 0.38, Buy) is being traded at the time written. Besides this, XAUUSD, spot gold (oz), 1770.1 USD (%0.37, Buy) is going along its trendline.American Dollar index (DXY) 92.44 is pushing itself (%0.4 Strong Buy) on the lin…